If I file for bankruptcy?

Question

Ok my boyfriend and I live together, he works, I don't. We have 2 kids, only 1 is his. If I file for bankruptcy do I have to claim his income?

Answer 1

You have to be honest about your income an expenses. He isn't your spouse, so you don't have to list his income. However, you would need to disclose that you share expenses. If you rent an apartment for say $1000 per month, you need to disclose what your actually share fo the rent is and not just list the full rent. The bankruptcy trustee will ask you about those things and you will be under oath.

Answer 2

In Oct of this year (2006) alot of the bankruptcy laws changed in alot of states such as here in TN. The best thing for you to do is get a consultation visit with an attorney that specializes in bankruptcy law. The consultation visit is usually free and one would advise you the best way to proceed as there are many ways to file that only they are aware of especially with all the new changes.

Good luck to you.

Answer 3

For form B22 to deteremine eligibility for chapter 7, you have to list all income sources for the household. For the income and expense schedules, you would have to deduct his contributions to household expenses.

It's only a problem if your combined income is more than the average family income for your state for a family of 4. Since you don't say what state you live in, I can't help you. You can find the information at your bankruptcy court's website, the US Trustee Office's web site or the IRS website.

Answer 4

before you file for bankruptcy check out creditsolutions.com you don't have to be working to do their program you just have to have a way to pay for their program. We are looking into it for our credit cards etc... they have a great program and you will actually see up to 50% of your debt forgiven and will only have to pay about 60% of your actual debt totals. Hope that helps...the real problem with bankruptcy is it will stay on your record for 7-10 years and that can be a problem when it come to qualifing for any types of purchases, this program doesn't affect your credit nearly as much!

Good Luck

Answer 5

Not unless you are married. I believe you have to claim any child support you recieve from him. Remember most attorneys will answer these questions over the phone just give one a call. Good luck with your future. Bankruptcy is hard, especially afterwards trying to get credit I know.

Answer 6

You only claim his income if you are filing together, or are married. Otherwise the bankruptcy is only on you and only your debts and income.

Answer 7

I would look into other measures other than bankruptcy to get rid of the debt. Take it from personal experience you will have 10 YEARS of grief. It shows up on everything and you always have to have a co-signer. There are many other alternate routes to eliminate your debts. Talk to a professional and get many opinions before you do this.

Answer 8

To file bankruptcy, you have to show that your bills are higher than what money you make or bring in.

Answer 9

decrease your telephone invoice - person-friendly telephone/cellular telephone will be decrease to $50 monthly. same with cable/internet - try to be able to cut that to about $80 - $ninety/month. proper there you've yet another $100 and forty monthly. Hate to assert it, yet you also want to look at your different/leisure prices - ascertain out a thanks to save money (the library is free) and also you should get yet another $50/month. the project you may have is given your income and your prices, you probable received't qualify for financial ruin 7 (the financial ruin decide is going to inform you what I merely advised you about cable, etc.), so at brilliant, you get some alleviation by financial ruin 13, finally end up paying maximum of this back and back, happening a strict budget. Your project isn't your income, yet your spending habit. a great number of the things you've is probable what's termed discretionary, which potential you spend because you want to, no longer because you're able to (the phone and cable are correct examples). also, ask your mom in case you could briefly decrease your funds to $50/month. My wager in case you actually are extreme about getting out of debt, you could throw yet another $250 to $three hundred at your costs as well to the $250 you've left over for costs now. upon getting trimmed your budget, call the sequence organizations, clarify that you want to pay them back, yet that they are going to both could wait or get no longer something in any respect...attempt to barter a freeze of interest so the debt would not strengthen. next, in case you've not already, decrease up the charge playing cards - do no longer use any extra credit - in case you could not pay money, you do not purchase it. you comprehend that in case you could save money and throw $500 to those costs monthly, you'd be completely out from lower than in about 16 months.

Answer 10

ur not legally married, so even if u file for a bankruptcy everyone is right, its only on u!!! good luck!!